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10 October 2019
HALAL ECONOMY

Lion Air joins record rush of Indonesian firms planning IPOs

Lion Air has mooted the possibility of listing as far back as 2005, though the plans have been delayed multiple times due to a flagging Indonesian economy and other issues.

BLOOMBERG/Lion Air


Indonesia’s largest private airline, Lion Mentari Airlines (Lion Air), is among the more than two dozen local companies that are considering listing for the first time as investors overlook a selloff in the broader market to lap up stocks from initial public offers (IPO), reported Bloomberg.

According to I Gede Nyoman Yetna, the Director of listing at the Indonesia Stock Exchange, Lion Mentari Airlines, miners Ginting Jaya Energi, Dana Brata Luhur and Ifishdeco, as well as developer Alamanda Investama, may sell shares in the final quarter.

Investor appetite for shares of newly listed companies have already spurred 40 firms to tap the market this year, setting the exchange on course for a record number of IPOs this year. Lion Air began preparations for an initial public offer early this year and is targeting about $1 billion.


RELATED STORIES: DANA BRATA LUHUR LION MENTARI AIRLINES IPO INDONESIA STOCK EXCHANGE GINTING JAYA ENERGI ALAMANDA INVESTAMA


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